Essex Realty Group secured a buyer for this 36 unit mixed-use property after a highly competitive marketing process resulting in the property going under contract after two weeks on the market.
Neighborhood life in Hermosa is anchored by Hermosa Park, located on North Kilbourn Avenue near the northern edge of the community. Residents frequent the tennis courts, jogging paths, walking trails, and the park’s field-house which hosts various athletics and recreational activities. The majority of the neighborhood’s population reside along quiet, tree-lined streets that primarily consist of single-family homes. Hermosa’s housing market also extends to the busier main streets where vintage lofts and apartments are situated above commercial businesses, much like the subject property.
NOTE: Two of the selling entity’s principals are also principals of Essex Realty Group, Inc.
- (4) Commercial, (32) Residential Units
- Attractive Unit Mix Consisting of One, Two, and Three Bedroom Units
- Fully Renovated in 2016
- Several Recent Capital Improvements
- 7.54% Cap Rate on Current Numbers